Global Wood Coatings Market, By Coating Type (Scratch-Resistant, Stains & Varnishes, Shellacs, Wood

Published Date: | Report Code : CH2019271

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The Wood Coatings Market is expected to promise high growth due to the increasing demand for furniture production worldwide in recent years. Increasing demand from End-Use industries including for Furniture, Cabinets, Flooring & Decking, Siding and others of key developments by major companies including Akzo Nobel N.V, Axalta Coating Systems, BASF SE, DuPont, Valspar Corporation, Kansai paint Co. Ltd. and others with a focus on organic as well as inorganic growth strategies.  Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

Wood coatings tend to components in charge of the performance of wood coatings in both domestic and industrial spaces. A noteworthy target of wood coatings is to clarify the hidden components that impact the choice, application, and general operational issues.

Segment Insights:

The increasing demands for environment cordial wood coatings in one of the key trends that are expected to gain momentum during the forecast period. Wood coating producers are creating environment cordial items; for example, UV-cured and solvent-based wood coatings. Thus, rising environmental concerns will drive the demand for low-VOC wood coatings in the coming years.

Segment Analysis:

The Wood Coating Market has been classified by Type, by Technology, by Application Method, by End-User, and by Region. By Type, the market has been segmented into Scratch-resistant, Stains & Varnishes, Shellacs, Wood Preservatives, and Water Repellents. The Stains & Varnishes segment has high scale consumption by quantity in interior and exterior applications. By technology, the market has been segmented into water-based, solvent-based, powder-based, and UV-Cured. Among these, a solvent-based segment is more suitable due to its low cost, operational flexibility, and advanced technical advantages. By Application, the market has been segmented into Roll & Brush, Vacuum and Spray. Similarly, by the end-user, the market has been segmented into furniture, cabinets, flooring & Decking and Siding. Among these, the furniture segment has more demand due to an increase in consumer interest in home decorations, and rising residential and commercial operations. Also, rising environmental concerns will drive the demand for low-VOC wood coatings in the coming years.

Key Factors Impacting Market Growth:

  • Growing furniture production worldwide.
  • Increasing investments in residential and commercial sectors.
  • Increasing disposable income and improving standards of living.

 Key Developments:

  • On 28 July 2018, AkzoNobel formed a partnership with Renmatix, a specialist in making material from biomass to produced bio-based additives for paints and construction materials.

Regional Analysis:

Based on region, the wood coatings market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe is the second-largest market due to being traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing several transitions in terms of productions of chemicals and respective applications by end-use industries. Moreover, regulatory authorities have imposed strict guidelines about environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.

The Asia Pacific and the Middle East are expected to register the largest market share in the wood coatings market during the forecast period. This demand is about the growth of major end-use industries furniture, cabinets, flooring & decking, and Siding. China will capture the highest market share followed by India. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Also, Coatings with lower or no content of VOCs are gaining high importance in the coatings market. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, etc. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World includes South America and Africa which has a strong potential for the wood coatings market. There has been an increase in the number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the wood coatings market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

Companies Covered:

Key players in the global wood coatings market are focusing on expansion, mergers & acquisitions; new product development Joint Ventures such as Development Strategies to maintain their market dominance and achieved a higher global presence. Some of the leading players are Akzo Nobel N.V, Axalta Coating Systems, BASF SE, DuPont, Valspar Corporation; Kansai paints Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries Inc., The Sherwin-Williams Company, and NOROO Paints.

Market Segmentation:

By Coating Type:

  • Scratch-resistant
  • Stains & Varnishes
  • Shellacs
  • Wood Preservatives
  • Water Repellents 

By Technology:

  • Water-Based
  • Powder-Based
  • Solvent-Based
  • UV-Cured

By Application Method:

  • Roll & Brush
  • Vacuum
  • Spray

By End User:

  • Furniture
  • Cabinets
  • Flooring & Decking
  • Siding

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User
  • Rest of the World
    • By Region (South America, Africa)
    • By Coating Type
    • By Technology
    • By Application Method
    • By End-User

Reasons to Buy This Report:

  • Market size estimation of the wood coatings market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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